MIRA
INFORM REPORT
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Report Date : |
23.07.2012 |
IDENTIFICATION DETAILS
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Name : |
STEELFORCE |
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Registered Office : |
Lange Klarenstraat 16 20 Antwerpen, 2000 |
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Country : |
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Financials (as on) : |
30.09.2011 |
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Year of Establishment : |
1950 |
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Com. Reg. No.: |
402950965 |
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Legal Form : |
Private Subsidiary |
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Line of Business : |
Wholesale of metals and ores |
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No. of Employees : |
60 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Belgium |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
Steelforce
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Business
Description
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Wholesale of metals and metal ores |
Industry
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Industry |
Miscellaneous Capital Goods |
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ANZSIC 2006: |
3322 - Metal and Mineral Wholesaling |
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NACE 2002: |
5152 - Wholesale of metals and ores |
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NAICS 2002: |
423520 - Coal and Other Mineral and Ore
Merchant Wholesalers |
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UK SIC 2003: |
5152 - Wholesale of metals and ores |
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US SIC 1987: |
505 - Metals and Minerals, Except
Petroleum |
Key Executives
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News
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1 - Profit & Loss
Item Exchange Rate: USD 1 = EUR 0.717768
2 - Balance Sheet Item Exchange Rate: USD 1 = EUR 0.7453231
Corporate Overview
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Corporate Structure News
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Steelforce |
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Company Name |
Company Type |
Location |
Country |
Industry |
Sales |
Employees |
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Parent |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
4.0 |
20 |
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Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
653.0 |
60 |
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Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
512.5 |
35 |
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Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
172.8 |
12 |
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Subsidiary |
Melden |
Belgium |
Miscellaneous Capital Goods |
22.0 |
15 |
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Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
143.5 |
10 |
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Subsidiary |
Bruxelles |
Belgium |
Computer Services |
1.8 |
2 |
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Subsidiary |
Bruxelles |
Belgium |
Food Processing |
11.9 |
9 |
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Subsidiary |
Antwerpen |
Belgium |
Miscellaneous Capital Goods |
43.4 |
5 |
Executives Report
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Annual Profit & Loss
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30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
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Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate
(Period Average) |
0.717768 |
0.740255 |
0.73971 |
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Consolidated |
No |
No |
No |
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Turnover |
653.0 |
512.5 |
486.5 |
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Other Operating Income |
0.9 |
0.7 |
1.9 |
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Operating Income |
653.9 |
513.2 |
488.4 |
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Purchases |
632.6 |
512.1 |
458.0 |
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Increase or Decrease
in Stocks |
0.7 |
-20.0 |
3.7 |
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Raw Materials, Consumables, and Goods for
Release |
633.3 |
492.2 |
461.8 |
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Services and Sundry Goods |
7.3 |
8.2 |
7.4 |
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Remuneration, Social Security Charges, and
Pensions |
6.3 |
5.1 |
5.7 |
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Depreciation of and Other Amounts Written Off of
Formation Expense, Intangible and Tangible Fixed Assets |
0.1 |
0.1 |
0.1 |
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Increase or Decrease in Amounts Written Off
Stocks, Orders, and Trade Debtors |
0.2 |
-0.3 |
0.6 |
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Other Operating Charges |
0.0 |
0.3 |
0.0 |
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Operating Charges |
647.2 |
505.7 |
475.6 |
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Income From Financial Fixed Assets |
0.0 |
- |
- |
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Income From Current Assets |
- |
0.0 |
0.1 |
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Other Financial Income |
14.1 |
16.8 |
6.7 |
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Financial Income |
14.1 |
16.8 |
6.9 |
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Interest and Other Debt Charges |
6.3 |
5.8 |
6.7 |
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Other Financial Charges |
13.0 |
17.9 |
7.0 |
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Financial Charges |
19.3 |
23.7 |
13.7 |
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Income Taxes |
0.4 |
0.0 |
2.0 |
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Income Taxes |
0.4 |
0.0 |
2.0 |
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To Other Reserves |
13.5 |
- |
- |
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Transfers to Capital and Reserves |
13.5 |
- |
- |
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Return on Capital |
- |
- |
2.3 |
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Profit to be Distributed |
- |
- |
2.3 |
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Employees |
60 |
38 |
35 |
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Annual Balance
Sheet |
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Financials in:
USD (mil) |
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30-Sep-2011 |
30-Sep-2010 |
30-Sep-2009 |
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Filed Currency |
EUR |
EUR |
EUR |
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Exchange Rate |
0.745323 |
0.732493 |
0.684135 |
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Consolidated |
No |
No |
No |
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Formation Expenses |
- |
0.0 |
0.0 |
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Intangible Assets |
0.0 |
0.0 |
0.0 |
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Land & Buildings |
1.0 |
1.1 |
1.3 |
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Furniture and Vehicles |
0.2 |
0.2 |
0.2 |
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Leasing and Other
Similar Rights |
- |
0.0 |
0.0 |
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Tangible Assets |
1.2 |
1.3 |
1.4 |
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Participating
Interests |
0.1 |
0.1 |
0.1 |
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Affiliated Enterprises |
0.1 |
0.1 |
0.1 |
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Amounts Receivable and
Cash Guarantees |
0.3 |
0.1 |
0.1 |
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Other Capital Assets |
0.3 |
0.1 |
0.1 |
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Capital Assets |
0.4 |
0.1 |
0.2 |
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Fixed Assets |
1.6 |
1.4 |
1.6 |
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Goods Purchased for
Resale |
35.4 |
35.3 |
16.4 |
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Stocks |
35.4 |
35.3 |
16.4 |
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Inventory and Orders in Progress |
35.4 |
35.3 |
16.4 |
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Trade Debtors |
110.1 |
55.0 |
56.5 |
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Other Amounts
Receivable |
0.2 |
0.7 |
1.7 |
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Amounts Receivable Within One Year |
110.3 |
55.8 |
58.2 |
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Other Investments and
Deposits |
- |
0.2 |
- |
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Investments |
- |
0.2 |
- |
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Liquid Assets |
2.6 |
0.5 |
0.8 |
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Adjustment Accounts |
0.3 |
0.1 |
0.0 |
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Current Assets |
148.5 |
91.8 |
75.4 |
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Total Assets |
150.1 |
93.3 |
77.1 |
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Issued Capital |
3.0 |
3.0 |
3.3 |
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Capital |
3.0 |
3.0 |
3.3 |
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Legal Reserve |
0.3 |
0.3 |
0.3 |
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Other |
0.0 |
0.0 |
0.0 |
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Reserves Not Available
for Distribution |
0.0 |
0.0 |
0.0 |
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Untaxed Reserves |
0.0 |
0.0 |
0.0 |
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Reserves Available for
Distribution |
15.3 |
2.4 |
2.5 |
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Reserves |
15.7 |
2.7 |
2.9 |
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Capital and Reserves |
18.7 |
18.0 |
18.7 |
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Leasing and Other
Similar Obligations |
- |
- |
0.0 |
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Credit Institutions |
- |
0.1 |
0.2 |
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Financial Debts |
- |
0.1 |
0.2 |
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Amounts Due After More Than One Year |
- |
0.1 |
0.2 |
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Current Portion of
Amounts Payable After More Than One Year |
0.1 |
0.1 |
0.3 |
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Credit Institutions |
95.7 |
31.5 |
25.1 |
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Financial Debts |
95.7 |
31.5 |
25.1 |
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Suppliers |
33.0 |
42.0 |
28.0 |
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Trade Debts |
33.0 |
42.0 |
28.0 |
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Taxes |
0.0 |
0.0 |
0.8 |
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Remuneration and
Social Security |
1.2 |
0.5 |
0.6 |
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Taxes, Wages, and
Social Security |
1.2 |
0.5 |
1.4 |
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Other Amounts Payable |
- |
0.0 |
2.5 |
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Amounts Payable Within One Year |
130.0 |
74.2 |
57.3 |
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Adjustment Accounts |
1.5 |
1.0 |
0.9 |
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Creditors |
131.5 |
75.3 |
58.3 |
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Total Liabilities + Shareholders' Equity |
150.1 |
93.3 |
77.1 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
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|
1 |
Rs.86.57 |
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Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.